The Federal Government has suspended the proposed collection of a 4 percent Free On Board (FOB) charge on all imports, following concerns that it could disrupt trade and worsen economic pressures in Nigeria.
In a memo (Ref. No. F6380/T/12) dated September 15, 2025, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said extensive consultations with stakeholders, trade experts, and government agencies revealed that the levy would impose significant challenges on businesses and Nigeria’s trade environment.
“Many importers and businesses have raised concerns about the increased financial burden the levy imposes, with potential adverse effects on inflation, trade competitiveness, and the overall business climate,” the memo stated.
Edun explained that the suspension will allow for broader engagement with stakeholders and a thorough review of the levy’s framework, alongside its wider economic implications.
He assured that the Finance Ministry would work with the Nigeria Customs Service and other relevant parties to design a fairer and more efficient revenue structure that balances government revenue needs with economic growth and stability.
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